ACRHF - Ispire Technology Reports $5.9M Quarterly Loss Looks Toward Partnerships To Propel Company Into Profitable Territory | Benzinga
California-based Ispire Technology (NASDAQ:ISPR), innovator in vaping technology and precision dosing, reported a $5.9 million net loss for the third fiscal quarter as the company’s losses continue to trend upwards.
Michael Wang, Ispire's co-CEO said the company’s new business partnerships solidified during the recent quarter, which he expected would help propel Ispire into profitable territory.
“The third quarter was important for Ispire as it demonstrated our continued ability to add new strategic partners and expand within existing market sectors as we execute on our mission to be an innovator and a leader in our markets," Wang said.
Fiscal Third Quarter 2024 Financial Results
- Revenue increased 24% to $30.0 million as compared to $24.1 million in the same period of 2023. Tobacco vaping products contributed $18.1 million and cannabis vaping products contributed $11.9 million to revenue during the fiscal third quarter 2024;
- Gross profit increased 35% to $6.1 million for the ...